Bangalore, India, and Naples, Fla - November 15, 2016:
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, and ASG Technologies, a global provider of information access, management and control solutions, today announced an expanded partnership that integrates the offerings of Wipro's Data Management Centre of Excellence (CoE) with ASG's Enterprise Data Intelligence solution to improve compliance for the global financial services companies.
A host of regulations, such as the Basel Committee on Banking Supervision (BCBS) 239, aim to bolster the risk data aggregation capabilities and internal risk reporting practices of banks, and are driving technology spending in the financial risk and compliance domain.
ASG’s Enterprise Data Intelligence solution addresses compliance by providing an end-to-end view of an organization’s information estate to improve data visibility, analysis and understanding. Wipro’s service offering ensures that data is reported in a reliable and consistent manner across the business. As a result, global businesses in the financial services sector can respond to compliance requests in a timely manner and with confidence in the accuracy of their data.
“The demand of ever-expanding regulations and its economic impact drive businesses to focus on compliant information governance and transparent data management,” said Charles Sansbury, President and Chief Executive Officer, ASG Technologies. “Combining the deep domain knowledge of Wipro’s risk and compliance domain team with our powerful data lineage tool will deliver an exceptional solution for major financial institutions as they address their regulatory challenges.”
Wipro has signed a global value-added reseller (VAR) agreement with ASG. With this agreement, Wipro will have a non-exclusive license to sell the ASG Enterprise Data Intelligence solution worldwide to its customers.
The two companies will work together to offer consultancy services on BCBS 239 and data lineage as a service, which will help financial services customers meet compliance guidelines, and align critical business controls to the data supply channel.
"Compliance with regulatory reporting requirements is critical for financial institutions. This partnership enhances Wipro's leadership position in risk and compliance services, and strengthens our ability to support global financial institutions' compliance initiatives," said Pallab Deb, Vice President and Head – Analytics, Wipro Limited. "Our solution, when integrated with the ASG Enterprise Data Intelligence solution, enables customer data lineage, traceability, data quality and metadata management, which are critical for regulatory compliance."
About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading information technology, consulting and business process services company that delivers solutions to enable its clients do business better. Wipro delivers winning business outcomes through its deep industry experience and a 360-degree view of "Business through Technology." By combining digital strategy, customer centric design, advanced analytics and product engineering approach, Wipro helps its clients create successful and adaptive businesses. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, Wipro has a dedicated workforce of over 170,000, serving clients across 6 continents. For more information, please visit www.wipro.com
About ASG Technologies
ASG Technologies Group, Inc. brings peace of mind to today's enterprise with information access, management and control solutions for our customers. These solutions empower businesses to enhance workforce productivity, gain an accurate and timely understanding of the information that underpins business decisions and address compliance needs with improved visibility of cross-platform data from legacy to leading edge environments. More than 70 percent of global Fortune 500 companies trust ASG Technologies to optimize their IT investments. ASG Technologies is a global provider of technology solutions with more than 1,000 people supporting more than 4,000 midmarket and enterprise customers around the world. For more information, visit www.asg.com.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.